Execution of Tender Clause Samples
The 'Execution of Tender' clause defines the procedures and requirements for formally submitting and processing a tender in a contractual context. It typically outlines the steps a party must follow to submit a valid tender, such as providing necessary documentation, meeting deadlines, and adhering to specified formats or conditions. This clause ensures that all tenders are evaluated on a consistent basis and helps prevent disputes by clarifying the process, thereby promoting fairness and transparency in the selection or procurement process.
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Execution of Tender. The Tenderer must validly execute its Tender. A copy of the authorisation of the person by the corporation to execute the Tender must be submitted with the Tender or under seal. Where two or more persons or corporations lodge a joint Tender, each party must properly execute the Tender. Each party will be jointly and severally bound by the Tender (and by the Contract if the Tenderer is the Successful Tenderer).